DB Group, Allegations of Affiliate Omission... FTC Launches Full-Scale Investigation

The Fair Trade Commission (FTC) has launched a full-scale investigation following allegations that DB Group omitted certain affiliates in the materials submitted to the FTC.

According to industry sources on the 26th, the FTC is focusing on whether companies such as 'Donggok Social Welfare Foundation,' established by DB Group, and the companies 'Samdong Heungsan' and 'Viltec,' in which the foundation holds shares, should be included as DB Group affiliates.

The FTC annually reviews materials submitted by each group, including the status of affiliates, before designating large business groups with total assets of 5 trillion won or more.

If an affiliate is falsely omitted or not reported during this process, it may be considered a violation of the Fair Trade Act.

If the current investigation finds that the omission was a minor mistake, it may end with a warning. However, if intentionality is confirmed, severe measures such as prosecution of the group's head may be taken.

It has been reported that DB Group has previously excluded Donggok Social Welfare Foundation, Samdong Heungsan, and Viltec from the list of affiliates.

The FTC plans to closely investigate whether this omission was simply a mistake or intentional.

An FTC official stated, "We cannot confirm specific details about ongoing investigations," but added, "If a violation of the law is confirmed, we will respond sternly."